NRDC Acquisition Corp. Announces October 20, 2009 Special Meetings of Stockholders and Warrantholders

NEW YORK--(Business Wire)--
NRDC Acquisition Corp. ("NRDC Acquisition") (NYSE Amex: NAQ), a public
investment vehicle, announced today that it has postponed the special meetings
of its stockholders and warrantholders, which had previously been scheduled for
Friday, October 16, 2009, at 10:00 a.m. Eastern time, to Tuesday, October 20,
2009, at 10:00 a.m. Eastern time. The special meetings are being postponed to
allow NRDC Acquisition's stockholders and warrantholders additional time to
consider the proposals described below.

The postponed special meetings will be held on Tuesday, October 20, 2009 at the
offices of Clifford Chance US LLP, 31 West 52nd Street, New York, New York. The
record date for the postponed special meetings remains September 24, 2009.

At the postponed special meeting of stockholders, NRDC Acquisition`s
stockholders will be asked to approve (i) amendments to NRDC Acquisition`s
certificate of incorporation to provide that the consummation of substantially
all of the transactions contemplated by the previously announced Framework
Agreement will also constitute a "Business Combination" under the certificate of
incorporation, (ii) the transactions contemplated by the Framework Agreement,
(iii) amendments to NRDC Acquisition`s certificate of incorporation to provide
for its perpetual existence, (iv) amendments to NRDC Acquisition`s certificate
of incorporation which eliminate certain provisions applicable only to special
purpose acquisition corporations, add various provisions relating to the
Company`s intention to elect to qualify to be taxed as a REIT and revise certain
other provisions in anticipation of NRDC Acquisition`s existence as an operating
company, (v) an equity incentive plan and (vi) amendments to NRDC Acquisition's
certificate of incorporation to extend its existence until December 4, 2009, if
it appears at the time of the special meeting of stockholders the transactions
contemplated by the Framework Agreement cannot be completed by October 23, 2009.
At the postponed special meeting of warrantholders, NRDC Acquisition`s
warrantholders will be asked to approve amendments to NRDC Acquisition`s warrant
to, among other things, increase the exercise and call price and extend the term
of the warrants.

NRDC Acquisition Corp.

NRDC Acquisition is a special purpose acquisition corporation formed for the
purpose of acquiring, through a merger, capital stock exchange, stock purchase,
asset acquisition or other similar business combination, one or more assets or
control of one or more operating businesses. Since its initial public offering,
NRDC Acquisition`s activities have been limited to identifying and evaluating
prospective acquisition targets.

Additional Information

NRDC Acquisition has filed a definitive proxy statement with the SEC in
connection with the proposed transactions, certificate of incorporation
amendments and the warrant amendments and is in the process or mailing the
definitive proxy statement and other relevant documents to NRDC Acquisition`s
stockholders and warrantholders. NRDC Acquisition`s stockholders and
warrantholders and other interested persons are advised to read the definitive
proxy statement in connection with solicitation of proxies for the special
meetings of NRDC Acquisition`s stockholders and warrantholders to be held to
approve the transactions, certificate of incorporation amendments and the
warrant amendments because this proxy statement will contain important
information about NRDC Acquisition and the proposed transactions. Such persons
can also read NRDC Acquisition`s final prospectus from its initial public
offering dated October 23, 2007, its annual report on form 10-K for the fiscal
year ended December 31, 2008, which was filed with the SEC on March 13, 2009, as
amended ("Annual Report") and other reports as filed with the SEC, for a
description of the security holdings of NRDC Acquisition`s officers and
directors and their affiliates and their other respective interests in the
successful consummation of the proposed transactions. The definitive proxy
statement is in the process of being mailed to stockholders and warrantholders
as of a record date to be established for voting on the proposed transactions,
certificate of incorporation amendments and the warrant amendments and related
transactions. Stockholders and warrantholders will also be able to obtain a copy
of the preliminary and definitive proxy statements, without charge, once
available, at the SEC`s Internet site at http://www.sec.gov or by directing a
request to: NRDC Acquisition Corp., 3 Manhattanville Road, Purchase, NY 10577,
Attention: Joseph Roos, telephone (914) 272-8066.

Participation in Solicitation

NRDC Acquisition, and its respective directors, executive officers, affiliates
and other persons may be deemed to be participants in the solicitation of
proxies for the special meetings of NRDC Acquisition`s stockholders and NRDC
Acquisition`s warrantholders to approve the proposed transaction. A list of the
names of those directors and officers and descriptions of their interests in
NRDC Acquisition is contained in NRDC Acquisition`s Annual Report. NRDC
Acquisition`s stockholders and warrantholders may also obtain additional
information about the interests of its directors and officers in the
transactions by reading the definitive proxy statement and other relevant
materials to be filed by NRDC Acquisition with the SEC when they become
available.

Disclaimer

This press release is not a proxy statement or solicitation of a proxy, consent
or authorization with respect to any securities or in respect of the proposed
transactions.

Media:
LWP LLC
Lori Rhodes, 212-252-8881
or
Investor:
NRDC Acquisition Corp.
Joseph Roos, 914-272-8066

Copyright Business Wire 2009